Truist Financial Corp Increases Stock Holdings in EMCOR Group, Inc. (NYSE:EME)

Truist Financial Corp boosted its stake in EMCOR Group, Inc. (NYSE:EME) by 12.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,220 shares of the construction company’s stock after purchasing an additional 1,201 shares during the quarter. Truist Financial Corp’s holdings in EMCOR Group were worth $2,417,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of EMCOR Group by 83.8% during the fourth quarter. Allworth Financial LP now owns 136 shares of the construction company’s stock valued at $29,000 after buying an additional 62 shares during the period. CVA Family Office LLC purchased a new position in shares of EMCOR Group during the 4th quarter worth approximately $39,000. Cullen Frost Bankers Inc. purchased a new position in shares of EMCOR Group during the 3rd quarter worth approximately $42,000. Alaska Permanent Fund Corp bought a new position in shares of EMCOR Group in the 4th quarter worth approximately $43,000. Finally, Lindbrook Capital LLC lifted its stake in shares of EMCOR Group by 32.5% in the 4th quarter. Lindbrook Capital LLC now owns 208 shares of the construction company’s stock valued at $45,000 after purchasing an additional 51 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

EMCOR Group Stock Up 1.2 %

EME stock opened at $379.72 on Thursday. The business has a 50 day moving average of $344.38 and a 200 day moving average of $265.09. The firm has a market cap of $17.85 billion, a PE ratio of 25.05 and a beta of 1.07. EMCOR Group, Inc. has a twelve month low of $161.49 and a twelve month high of $380.00.

EMCOR Group (NYSE:EME) last issued its quarterly earnings results on Thursday, April 25th. The construction company reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.92 by $1.25. The firm had revenue of $3.43 billion during the quarter. EMCOR Group had a return on equity of 30.38% and a net margin of 5.48%. On average, research analysts expect that EMCOR Group, Inc. will post 16.1 earnings per share for the current fiscal year.

EMCOR Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 16th were issued a $0.25 dividend. The ex-dividend date was Monday, April 15th. This is a boost from EMCOR Group’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 0.26%. EMCOR Group’s payout ratio is 6.60%.

Wall Street Analyst Weigh In

EME has been the topic of several recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $375.00 price target on shares of EMCOR Group in a research note on Friday, March 22nd. KeyCorp began coverage on shares of EMCOR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock.

Insider Activity

In related news, CEO Anthony Guzzi sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $319.65, for a total value of $1,917,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,023 shares in the company, valued at approximately $70,010,701.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

About EMCOR Group

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.